PharmaMar inks deal to commercialize Yondelis in Turkey
Spanish drugmaker PharmaMar (MC: PHM) has entered into a licensing agreement with Onko Ilac San ve Tic to commercialize its marine-derived anticancer drug Yondelis (trabectedin) in Turkey.
Under the terms of the agreement, PharmaMar will receive a non-disclosed upfront payment and will be eligible for additional remunerations, including regulatory milestone payments. PharmaMar will retain exclusive production rights of the product and will sell the product to Onko for its clinical and commercial use.
This new agreement follows PharmaMar's announcement in August 2019, revealing it was re-gaining rights to Yondelis in more than 40 countries that had previously be licensed to Johnson & Johnson (NYSE: JNJ) subsidiary Janssen.
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